James G. Temme and Stewardship Fund LP

On October 14, 2011, the SEC obtained
a temporary restraining order, asset freeze and other relief against James G.
Temme and his company, Stewardship Fund LP. The Court subsequently entered
preliminary injunctions against them. According to the Complaint, since 2008,
James G. “Jay” Temme through Stewardship raised at least $35 million from
various investor groups. The SEC alleged that Temme told investors and their
advisers that he was using the investors’ money to purchase “tapes” of
non-performing mortgages from mortgage lenders at a discount. The SEC also
alleged that Temme represented he was paying returns from principal and
interest payments he collected from the homeowners, or from the resale of the
mortgages or underlying properties. According to the Complaint, these claims
were false.

For more information about the
SEC’s action, you can read Litigation Release No. 22130 (Oct. 18, 2011).

The Court has appointed Keith M. Aurzada
as Receiver. For the latest information about
the Receivership, please visit the Receiver’s website at www.stewardshipfundreceivership.com.